Don’t look now but there’s another mobile payment system on the way. It’s called Eaze and it combines two forward thinking technologies: BitCoin and Google Glass. Eaze debuted on Wednesday and is the brainchild of a small team that includes co-founder Raimo van der Klein, the former CEO of Layar, a company that created an augmented reality browser in 2009.

So how does Eaze work? The client app runs on Google Glass and can read QR codes that have transactional information at the point of sale. Glass shows the details of the payment on its viewscreen and you simply nod twice to approve the transaction with payment made in BitCoins. Eaze users will have to deposit BitCoins in what the company calls a “deterministic wallet” which is unlocked with a passphrase locally. In this way, the BitCoins are never stored on the Eaze servers.

I like the idea behind Eaze as I do wear Glass on a full-time basis; yes, even while driving. I’m not a BitCoin user, however, so Eaze isn’t for me just yet. Other payment options will be considered though as van der Klein said this in the product official news release:

“We don’t need debit or credit cards to authenticate. Wearables like bracelets, rings and Google Glass can identify us. Authorizing a payment can also be done with simple gestures. With EAZE, we are developing these new ways to pay using cutting-edge technology. “Nod To Pay” is our first service and many others will follow.”

Indeed, the Eaze website specifically notes that the company “will be adding various currencies and devices in the near future,” so not only will other payment options be likely, but other devices as well. That could speed up adoption of this new mobile payment service since few people have Google Glass today.